On the 19th of July, Standard & Poor's Ratings Services affirmed its long and short-term sovereign credit ratings on the Republic of Malta at 'BBB+/A-2'. The outlook on the long-term rating is stable. The transfer and convertibility (T&C) assessment on the Republic of Malta remains at 'AAA'.

Please find below some of the key reasons/comments Standard & Poor’s considered to base its rating on Malta:

- “The ratings are supported by our view of Malta's relatively strong institutional and governance effectiveness, and its prosperous economy.”;

- “We expect Malta's real GDP per capita growth to increase marginally to 0.7% in 2013 and to remain below pre-crisis rates for the next few years.”;

- “Malta's growth performance has been one of the strongest in the European Economic and Monetary Union (eurozone) with real GDP per capita averaging just below 1% annually between 2007 and 2012. Manufacturing and services exports have been key drivers of the economy.”;

- “Malta's domestic financial system appears stable. The presence of internationally oriented banks poses little threat to the government by way of contingent liabilities”.

The full report can be read by clicking here however you may need to register to obtain a free of charge access.